Wells Fargo is working on a biometric authentication system for its online app. The system is going to be multimodal and customers will be able to use it to log in.
It’s meant to improve user convenience, and it should be a marked improvement: Right now the app requires users to enter a user ID, a password, a security token, and a PIN before they can perform transactions. The new system uses a combination of facial recognition and speech recognition, requiring the user to basically take a selfie and to read aloud a series of numbers. The process takes a little less than half a minute.
In developing its new system, the company is getting help from SpeechPro, a company that has enjoyed some success in getting its voice recognition technology into mobile platforms and other major applications.
Of course, Wells Fargo is by no means the only mobile banking app that is taking advantage of biometric authentication. USAA also recently launched its own multimodal authentication system, and many other financial services organizations are embracing the technology as well, albeit often using only one biometric modality. In exploring a multimodal solution, Wells Fargo is ensuring its system has a high level of security.